One thing about it, the dealerships have to be feeling the pain. Less cars sold equals less cars that will need serviced, and less dealer add ons (floor mats, wheels, etc.), both of which are great money makers for the dealerships.
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When to buy a car.
- Thread starter CAMSDADDY
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One thing about it, the dealerships have to be feeling the pain. Less cars sold equals less cars that will need serviced, and less dealer add ons (floor mats, wheels, etc.), both of which are great money makers for the dealerships.
I am a firm believer in gap insurance for no more than it effect payments. If you trade car in before the loan is paid off 90 percent of the time you are going to be upside down and owe more than it worth. If you drive the car for six months and have an accident the buyer is responsible for the negative equity from the trade and the depreciation of the new one. It's a scary thought. People don't worry about it untill it's to late. It's especially important for those that trade up every 2 to 3 years.
If she needs a vehicle right this minute, find her an older, high mileage Toyota as cheap as you can. This ridiculous market panic will pass eventually, and then you can find her a nice late model, low mileage, whatever. However, as others have posted, I would also stay clear of anything German. They are pits leading straight to hell.
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Yes and start putting more money back for when things do stabilized she move up a model.
Half of it is totally fabricated just to drive up the price
I keep
Reading in the news about how there’s no rental cars and that’s driving up the price of rentals .
but in Jonesboro, enterprise and Budget have a car SALES lot , and both lots are CRAMMED with cars pickups large and small SUVs and crossovers and minivans and a few full size vans .
If there’s a shortage of rental cars, why would the car rental companies be SELLING their rental car inventory ???
Unless it’s to drive up the daily rate price of the rentals ?
I keep
Reading in the news about how there’s no rental cars and that’s driving up the price of rentals .
but in Jonesboro, enterprise and Budget have a car SALES lot , and both lots are CRAMMED with cars pickups large and small SUVs and crossovers and minivans and a few full size vans .
If there’s a shortage of rental cars, why would the car rental companies be SELLING their rental car inventory ???
Unless it’s to drive up the daily rate price of the rentals ?
Item Gone: FS/FT 2013 Passat TDI - 110k miles
Item Name: FS/FT 2013 Passat TDI - 110k miles Location: OXFORD Zip Code: 30054-3916 Item is for: Sale or Trade Sale Price: 10000 Trade Value or Items Looking For: 10000 Willing to Ship: No Bill of Sale Required?: No Item Description: I am back in the states and ready to let this car go :)...
www.theoutdoorstrader.com
Rental cars can effect a certain s card resale horribly. Rental companies went after the Ford Taurus. Overnight every Taurus on the road no matter the year or milage was worth 5,000 bucks. When I was a lot lizard ( car salesman ) we use to scatter like cockroaches when a Taurus pulled in the lot. They were so upside down in negative equity there was no way to put a deal together. That was the case 99% of the time.
To give you an Idea of how much markup there is in trucks get this. I sold my dad 2002 Dodge Ram Quad can SLT with 20's and tow pack, Infinity sound system pretty much everything except leather. Atlanta is to hot for leather. It was sticker priced at 40,000 and some change. He got my discount which was 500 below factory invoice minus any factory incentives. Which includes monies given to the dealer that didn't necessarily need to be disclosed to the purchaser. So with the factory rebate and the 2000 in bonus incentives and profit between MSRP and cost ended up to be a final purchase price of 32,500.
You have to really shop and do research for that non disclosed rebate. They will only get into that when the customer is eat up in negative equity or just need extra to close the deal. You have to hold out for those monster rebates. However, by what someone posted earlier that's not going to happen if inventory is low and they aren't willing to negotiate. It doesn't matter when it come to price to some people who just want a new car. I caution them to tread softly. If the market changes overnight for the better you are going to be swimming in negative equity and if you don't have gap insurance ( what the car is worth on the market and what you owe over that is paid for you ) if you get in an accident you will only recover what the car is worth. Let's say it worth 20,000 on the market and it has just changed for the better. You owe 27,000. The insurance will give you twenty and you still owe that bank 7,000 dollars. No if's and or buts. That's why it is especially critical you buy gap insurance when the market is like this.
To give you an Idea of how much markup there is in trucks get this. I sold my dad 2002 Dodge Ram Quad can SLT with 20's and tow pack, Infinity sound system pretty much everything except leather. Atlanta is to hot for leather. It was sticker priced at 40,000 and some change. He got my discount which was 500 below factory invoice minus any factory incentives. Which includes monies given to the dealer that didn't necessarily need to be disclosed to the purchaser. So with the factory rebate and the 2000 in bonus incentives and profit between MSRP and cost ended up to be a final purchase price of 32,500.
You have to really shop and do research for that non disclosed rebate. They will only get into that when the customer is eat up in negative equity or just need extra to close the deal. You have to hold out for those monster rebates. However, by what someone posted earlier that's not going to happen if inventory is low and they aren't willing to negotiate. It doesn't matter when it come to price to some people who just want a new car. I caution them to tread softly. If the market changes overnight for the better you are going to be swimming in negative equity and if you don't have gap insurance ( what the car is worth on the market and what you owe over that is paid for you ) if you get in an accident you will only recover what the car is worth. Let's say it worth 20,000 on the market and it has just changed for the better. You owe 27,000. The insurance will give you twenty and you still owe that bank 7,000 dollars. No if's and or buts. That's why it is especially critical you buy gap insurance when the market is like this.
That deal my father got is exactly why when you go to trade in a truck you bought a year ago is only worth 24,000. Cause the dealer only actually paid 32 thousand minus Hold back which can be as much as 2,500 dollars and depreciation from miles and age. Hold back is a profit only the dealer is eligible for but can give to customer if they wish which is very rarely. It helps cover interest from what that truck has accumulated sitting on the lot. Then when you say " well I paid 37,000 for that truck 10 months ago ". Now you know! Buying and selling a cars 101 by Greg Vess
Thats actually a lower discount off sticker for most domestic trucks, when the market is normal and I am looking at sticker prices, I start my discussion price at 20-25% off sticker. When they are jammed loaded with trucks and trying to hit quotas the unit moving is almost as important to them as the margin. If more people started telling them that this is what I am going to pay, you might start taking all the "negotiation" BS out of the buying process and it might just be a good experience buying a car again instead of having to endure a bunch of half wit desperate sales people that don't know what they are talking about.
And for goodness sake people, stop telling the dealer you have a vehicle to trade until you get to the price you want to pay for the new one!!!!.....
I was curious so I took my 15 Tacoma pro 70,000 miles to Carmax for a quite. Paid 31000 for it in 16. Carnac offered 25000.
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